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    Reference: 20150682
    Release date: 2 May 2016

    Promoter – Financial Intermediary

    PRIVATE ENTITY(IES)

    Location

    Description

    Construction of two 40MW net output solar photovoltaic (PV) power plants near Eldoret, Western Kenya. The projects are being developed as independent power producers (IPPs) under the feed-in tariff regime in Kenya. The two projects will have shared facilities and services and will supply electricity to the national grid.

    Objectives

    The proposed operation is in line with the strategic objectives set for the Bank's external mandates in general (environmental sustainability, climate change mitigation), the Cotonou Agreement - in particular Article 21 concerning investment - and private sector development. The operation will also contribute to the Bank's priority energy lending objectives related to renewable energy. In addition, the 11th EDF National Indicative Programme for Kenya (2014-2020) includes a focus on sustainable infrastructure. The projects are also fully in line with the country's objectives as Kenya's second medium-term plan (2013-2017), aiming to implement Kenya's Vision 2030, explicitly targets increasing the share of power generated from green sources.

    Sector(s)

    • Energy - Electricity, gas, steam and air conditioning supply

    Proposed EIB finance (Approximate amount)

    USD 53 million (EUR 48 million)

    Total cost (Approximate amount)

    USD 148 million (EUR 134 million)

    Environmental aspects

    Environmental and social impact assessments (ESIAs) have been prepared for the two PV plants and have been submitted to the competent authority NEMA (National Environmental Management Authority) for approval. Compliance with the environmental and social standards of the EIB including, amongst others, the principles of relevant EU directives will be verified during appraisal.

    Procurement

    The Bank will require the promoters to ensure that project implementation will carried out in accordance with the Bank's Guide to Procurement.

    Status

    Signed - 14/09/2018

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    Kenya Energy